IDFC First Bank shares in focus as Platinum Invictus secures RBI nod for Rs 2,624 crore investment
will be in the spotlight after the lender announced that Platinum Invictus B 2025 RSC Limited has received Reserve Bank of India (RBI) approval to invest up to 9.99% of the bank's paid-up share capital.
The proposed investment, worth about Rs 2,624 crore, will translate to roughly 5.09% of the bank's post-issue paid-up share capital. The stake purchase will be executed through a preferential issue approved by shareholders on May 17, 2025.
IDFC First Bank
had earlier outlined plans to raise funds via this preferential issue and has now confirmed receipt of the required RBI clearance for the transaction.
Separately, the bank has launched 'RemitFIRST2India,' a digital platform designed to enable Non-Resident Indians (NRIs) to send money to India more quickly and securely.
The service currently supports transfers from Singapore and Hong Kong, with plans to expand to other markets soon. Developed in collaboration with Singapore-based remittance provider SingX, the platform offers real-time transaction tracking, competitive forex rates, and paperless transfers. Customers can access the service through the bank's mobile banking app or a dedicated web portal.
IDFC First Bank shares price target
According to Trendlyne data, the stock has an average target price of Rs 75, implying a 9% upside from current levels. The consensus rating from 18 analysts is 'Buy.'
The stock's Relative Strength Index (RSI) is at 39.4, indicating a neutral momentum (below 30 is oversold, above 70 is overbought). The MACD stands at -0.9, below both its signal line and the center line—a strong bearish signal.
IDFC First Bank shares price performance
IDFC First Bank
shares are down 11% over the past month and have dropped 21% in the last two years. The bank's market capitalisation is currently Rs 50,643 crore.
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